7/21/2009

Not a bad idea for rise in HDB resale prices

'HDB flat prices should be a reflection of Singaporean's wealth and it is "not a bad idea" for prices to increase steadily, especially for those holding onto negative assets bought in the previous market peak in the mid 1990s.' Grace Fu
What about those first time buyers who have yet to buy a flat and chasing the escalating prices?

30 comments:

"HDB flat prices should be a reflection of Singaporean's wealth" --> This is how manipulative words can be, to turn a negative scenario into positive one. Word is, afterall, the most toxic drug the human kind has invented.

Here, we have a leader who does not understand or care for the future. All she did was to provide a 'reasonable' answer NOW, any other problems arising from the 'runaway' pricings of HDB are likely the babies for the future buyers to take cares, not her(Grace Fu) responsibility.

Houses in Malaysia are cheaper because of many factors, one being they have more land. It might be investors see Singapore as more attractive too.

As for housing being unaffordable, it really depends. Some complains may be genuine, but I doubt all who complain are justified in doing so.

I am single, no inheritance, worked my way through sweat and tears for years before I can even purchase a flat from the secondary market. Now it is fully paid.

Those young ones especially should not expect everything to be handed to them on a silver spoon. You want a roof over your head, you have to work for it. You young married ones already have double advantage over singles like me - subsidized purchase direct from HDB (much lower than non-subsidized secondary market ones) and double income. Don't tell me you can't even beat people like me to it?

Stop whining and start working for what you want.

That said, I am more pissed off with the government about the CPF Life longevity celebration scheme.

good for you. i am sure you will know that in every heap of dirt there could be a little gold or diamond. or in any society, the elite and successful can be found but very few. the bulk of the heap is mostly dirt, losers.

on an individual basis successful people can tell the losers to go to hell. but policy makers got to think twice about brushing aside the losers. the losers are the majority and can exert quite a bit of weight.

the relative cost of a property versus the income of the average losers is very high today compare to the 20 or 30 years ago. it was less than 3 times an average guy's salary. today it is more than 10 times. not many can afford the current type of pricing except to downgrade or lower their expectation.

this i would call a failure to improve the quality of living in terms of better housing for the average people.

I am no elite nor successful diamond in a heap. I can be considered as one with those in the rubbish heap.

I have bought my flat just two years ago, not decades and I do feel the pinch.

But I do not see any usefulness in whining and complaining, because in the end, I will still end up remaining in the rubbish heap.

If we want something, we should work for and towards it. I have lived in rental rooms all over Singapore before getting my own home. It wasn't instantly a home sweet home all to myself, in a prime estate.

I wouldn't have gotten where I am now if I had indulged in making noise in the dumps and expect the government to act out of fear of my imaginary power to dethrone them.

anonymous 1:48, That's why the government like citizens like you. Work hard, save hard and be contented to live in your little pigeon hole in the sky. Of course you aspire for more and will work hard for it. That's what they like to see more of Singaporeans do. Be like you. Don't complain. In fact, who cares about the complaints. If they decide to increase the prices of HDBs, they will. If it takes 2 generations to pay off the mortgage like in Japan so be it. As long as they continue to earn their million dollar salaries, that's all that matters. They rest of us should just go back to our HDBs and shut up. All these noises are making it hard for them to enjoy their million dollar lifestyles.

let me add a few words here. there will be hard working and successful people like anonymous. but not many can do that, buy a flat and paid fully in 3 years? these are the exceptions. there are many who are quite talented, hardworking, and willing to slot, but just could not do what anonymous had done for some reasons that are not their fault. some have other family commitments or problems to deal with.

but complaints are very very impt. it was mentioned in parliament that they did heard some complaints about the minibonds before it blew up. the problem was that the complaints were too few so no one really pay attention to them.

if only people complained louder, less will be heard by the toxic bonds. if people complained louder, many students would not be cheated by fly by night private schools selling fake degrees.

because the complaints were not loud, not taken seriously, the rot continues. i made a few complaints about the private school nonsense, but it was a whimper and no one pays any attention. if they have acted earlier, many heartaches would be spared.

Hi Redbean, thank you for the direct response to my comments. I understand anonymous 1:48 completely. In fact, I was in his shoes many years ago. Bought a small HDB flat and paid it off in 3 years. Yes, if one works hard and save hard, one will get to where one wants to go provided the desired destination is not unrealistic. The thing is after years of struggle, I'm getting tired and I've set aside a comfortable nest for my family and myself. Frankly, I don't see any prospect for change. Million dollar salary is a very strong incentive to maintain the status quo. I decided that to leave even though life was very comfortable for my family and me in Singapore.

I don't mean there shouldn't be complaints. It's just that nothing will change. They always know better. They know what is good for you and me. They know what is good for our future. Just do as they say and everything will be fine. They have the record to prove it. Look at the spectacular state of the nation compared to its neighbours! Can't argue with that.

I am not too sure when you all agree that PAP does not like complaints.

Far fr it,PAP always welcome feedback,and make it a point to get feedback at great expenses by setting up various channel of feedback.

If you are telling me that PAP only wants positive feedback,which is called compilments,yes they do,who don't?but negative feedback is a necessary evil,I simply could not believe that ministers who command $3 million a year and stupid in Ivy league at great scholar type expenses are that stupid.Are they?

if we are so dull or blinded by greed and can only see the good side of high property prices and ignore or refuse to see the damages or problems it can cause, the consequences will be for us to bear when the house of cards come tumbling down.

national leaders and the wise policy makers must always look at all angles to moderate the adverse effects of their policies. what we have seen so far is like horses wearing blinkers and just keep charging forward. it is good, so good and nothing will go wrong.

unfortunately every policy or decision made cuts boths ways and many ways. what is good, when push to the extreme will turn bad.

J J, You are right to say most Singaporeans own a lease rather than a house. When one satisfies the conditions to sell ones' house the rising prices will result in the seller making a profit. That's what i understand from Grace Fu's statement.

And i saw and see many foreigners staying in our public housing now. It seems that foreigners turn PRs or citizens are permitted to buy HDB Housings. If such is the arrangement and as reported, our leaders are looking at an ideal population of 8 millions, present owners do indeed stand to gain from the rising prices.

With most sectors in the doldrum, only real estate, property and financial products can be manipulated. Vices are also possible vehicles, BUT i do think our leaders will be too brazen with this industry. Do they have much choice ?

May i suggest that it is high time that Singaporeans emulate our foreigner settlers here by doing the reverse. Sell everything and leave before it is too late, countries like Australia, Canada and France etc are tightening their immigration policies and others may follow suit.

As it is, many Singaporeans will turn millionaires by settling themselves in the many Third World Countries in Asia/SE Asia. It is just my layman view and i do hope that my superficial understandings are acceptable.

JJ is suggesting to that Anon who have asked people here to stop whining to tell a supertalent to shutup, as it is a gesture of doing the country a favour. That is not to offend the other countries where houses are cheaper. If more expensive houses is an indication sign of a wealthy country, then it is offensive to countries which houses are cheaper. It is not nice to tell other countries that they are poor countries, poor government, didn't help the people to appreciate their housing value. Not nice.

'When one has collected plenty of pig shit, he has a lot of positive things to say'. That's the literal translation of a saying in Chinese.

Let's hope they continue to be always the ones who got the lion's share of the prosperity and not become one of the have-nots. Life is full of uncertainties and unpredictables. Don't be smug and arrogant.

Society is also about caring for those who are not able to achieve, and not continuing to make it more difficult for them to afford paying for the roof over their heads. It is not only about always pandering to those who have already got what they want.

In all my postings, one of my key principles is to avoid tarnishing anyone personally, and the least for indiscretion in their private live...

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